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Diversified renewable energy to contribute to India’s energy transition

For the world to achieve a net-zero future, solar and wind power capacities must grow 17 and 10 times, respectively, between 2021 and 2050

A risk-proof transition to renewables would only be possible if countries are able to secure access to uninterrupted and affordable supply chains of renewable energy technologies (Getty Images/iStockphoto)Premium
A risk-proof transition to renewables would only be possible if countries are able to secure access to uninterrupted and affordable supply chains of renewable energy technologies (Getty Images/iStockphoto)

An upcoming event of the ministries of new and renewable energy, mines and power will focus on diversifying and securing renewable energy and critical mineral supply chains for energy transitions, including promoting circularity in value chains.

The event, supported by the Asian Development Bank (ADB) and the Council on Energy, Environment and Water (CEEW), will feature two panel discussions on securing renewable energy supply chains, and strengthening the mineral value chain by increasing production and infusing circularity.

Global economic development coincides with a shrinking carbon space, intensifying climate risks, and rising geopolitical adversities. For the world to achieve a net-zero future, solar and wind power capacities must grow 17 and 10 times, respectively, between 2021 and 2050. Annual battery deployments need to increase 50 times and 28 times, respectively to enable the transition of the power and mobility sectors, according to an official release.

A risk-proof transition to renewables would only be possible if countries are able to secure access to uninterrupted and affordable supply chains of renewable energy technologies like solar, wind, batteries and hydrogen. India ranks fourth in the world in terms of installed capacity of renewable energy and is fast accelerating to meet its net zero target by 2070.

However, many minerals used in clean energy technologies are rare, and often concentrated in a few geographies. One major advantage of mineral-dependent technologies is their ability to be reused and recycled continuously. This could help maintain a reliable supply of materials through appropriate technologies and infrastructure. Promoting circularity will also help strengthen the mineral value chains. In its G20 year, the principles of India’s Mission LiFE (Lifestyle for Environment) can promote circularity in manufacturing and use these minerals for a transition to renewables.

Bhupinder Singh Bhalla, Secretary, Ministry of New and Renewable Energy, and Vivek Bharadwaj, Secretary, Ministry of Mines will address the event ‘Diversifying Renewables & Critical Minerals Supply Chains to Advance Energy Transition’ on April 3 in Gandhinagar.

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Updated: 01 Apr 2023, 02:47 PM IST
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